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AM Members Seek Over $1B In Lawsuits Across U.S. And Canada

WASHINGTON TIMES - Aug 25 - In U.S. District Court for the Northern District of Texas, attorneys say in a 27-page complaint that Avid failed its obligations to abide by best practices and industry standards concerning digital security. In the Central District of California, attorneys filed a similar suit and asked the court to grant class-action status so other members impacted by the "nightmare" brought on by hackers can see relief. Avid Life Media has until Sept. 14 to answer accusations that it failed to safeguard sensitive user data that was dumped online last week. Two Canadian firms said last week that they were bringing a class-action suit against Avid seeking upwards of $760M in damages. Even if Avid agreed to award $100 each to half of Ashley Madison's roughly 37M customers, the company would still stand to lose nearly $2B. Avid earned around $115M in revenue during 2014, according to court filings.

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AM Members Seek Over $1B In Lawsuits Across U.S. And Canada

WASHINGTON TIMES - Aug 25 - In U.S. District Court for the Northern District of Texas, attorneys say in a 27-page complaint that Avid failed its obligations to abide by best practices and industry standards concerning digital security. In the Central District of California, attorneys filed a similar suit and asked the court to grant class-action status so other members impacted by the "nightmare" brought on by hackers can see relief. Avid Life Media has until Sept. 14 to answer accusations that it failed to safeguard sensitive user data that was dumped online last week. Two Canadian firms said last week that they were bringing a class-action suit against Avid seeking upwards of $760M in damages. Even if Avid agreed to award $100 each to half of Ashley Madison's roughly 37M customers, the company would still stand to lose nearly $2B. Avid earned around $115M in revenue during 2014, according to court filings.